09 August 2013 17:59 [Source: ICIS news]
HOUSTON (ICIS)--US July styrene contracts have settled at an average increase of 1 cent/lb ($22/tonne, €17/tonne) from the previous month, taking prices to 77.75-81.75 cents/lb, according to market participants on Friday.
The increase comes after initial settlements emerged last week at declines of 1 cent/lb to increases of 2 cents/lb.
The July styrene settlements were expected to come down, following the 35 cent/gal drop in the July benzene contract and a lack of price initiatives from styrene suppliers.
However, contract positions were also under pressure from the rebound in the August benzene contract and continued globally tight supplies.
($1 = €0.75)
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